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Pound Gains on Political Support as Dollar Recovers From Worst Week
The British pound found support from political developments, while the US dollar bounced back from its worst week since April. US equity markets were closed for Independence Day as investors reassess Fed tightening expectations ahead of the June FOMC minutes.
Japanese Yen Falls to Near 40-Year Lows as Intervention Risks Loom
The Japanese Yen resumed its downtrend against the US Dollar on Monday, approaching levels not seen in 40 years, with traders wary of potential intervention by Japanese authorities.
Euro Set for Gradual Appreciation as Eurozone Inflation Falls More Than Expected
Eurozone flash inflation for June dropped more than anticipated, with both headline and core readings declining, bringing the core rate closer to the ECB's 2% target. This supports a gradual appreciation of the euro against the dollar.
USD/JPY bulls regain control after correction, eye multi-decade peak
USD/JPY surged in early Monday trading, nearly reversing last week's pullback from 162.84 to 160.47. The correction was contained by the 23.6% Fibonacci retracement of the 155.02–162.84 rally, indicating bulls remain in control.
EUR/GBP Hits One-Year Low Near 0.8560 Despite Positive Eurozone Data
The Euro extended losses against the British Pound on Monday, sliding to session lows below 0.8560 and approaching one-year lows after a Friday rebound failed to hold.
Rabobank Cuts EUR/USD Forecast After Drop Below 1.15
Rabobank's senior FX strategist Jane Foley says EUR/USD has fallen below the bank's prior one-month forecast of 1.15, prompting a reassessment of the pair's outlook.
GBP Remains Strongest G10 Currency Since By-Election: SocGen
Societe Generale notes that sterling has held its position as the strongest G10 currency since the Makerfield by-election, supported by a reduced speculative short position.
USD/CHF Price Forecast: Aiming for 0.8065 Amid US Dollar Strength
The Swiss Franc pares recent gains against the US Dollar as fresh Middle East tensions dampen risk appetite, with the pair targeting the 0.8065 area.
Gold Price Falls as Middle East Tensions Boost US Dollar Demand
Gold (XAUUSD) declined as a stronger US Dollar, fueled by heightened geopolitical uncertainty in the Middle East, weighed on the precious metal.
Yen Weakens Again, USD/JPY Above 162.00 as Policy Risks Support Higher Yields – MUFG
The Japanese Yen weakened again, pushing USD/JPY above 162.00. MUFG's Lee Hardman notes that policy risks are supporting higher yields.
NZD/USD Slides on Commodity Weakness and RBNZ Uncertainty
The New Zealand Dollar fell 0.50% against the US Dollar, trading near 0.5680, pressured by lower commodity prices and ongoing uncertainty over Reserve Bank of New Zealand policy.
US Jobs Miss Deepens as June Payrolls Rise Only 57,000
June US employment report shows payrolls rising by just 57,000, far below consensus, keeping the yen on watch as markets turn focus to ISM services data.
ING: Dovish Signals Challenge CEE Currency Gains
ING strategist Frantisek Taborsky notes that weaker US data and a softer dollar boosted CEE currencies, but attention now turns to local inflation and central bank policy, which may challenge recent gains.
Silver price falls to $62.02, down 0.64% on Monday
Silver (XAG/USD) declined to $62.02 per troy ounce on Monday, a 0.64% drop from the previous $62.42.
USD Stabilizes After Long Weekend, Fed Minutes in Focus
The USD appears to be recovering after a long weekend and a weak US June employment report. Market attention turns to the Fed's June meeting minutes for further clues.
USD/JPY Faces Risk of New Lows, Says Societe Generale
Societe Generale strategists note USD/JPY has pulled back after testing resistance near 162.80 but remains above the March peak, warning of potential new lows.
Euro Edges Lower Despite Strong German Factory Data
The Euro weakened against the US Dollar on Monday as investor caution outweighed positive German industrial production figures.
RBC: BoC Business Outlook Survey to Gauge Confidence Amid Energy Shock
RBC economists Nathan Janzen and Abbey Xu note the Bank of Canada's Q2 Business Outlook Survey will show how firms reacted to recent energy price volatility, with West Texas Intermediate (WTI) crude oil prices previously near volatile levels.
EUR/USD Range-Bound, Upside Capped by Resistance – UOB
UOB analyst Quek Ser Leang sees EUR/USD consolidating in the short term between 1.1415 and resistance, with flat momentum indicators.
BNY: Softer Data Eases Fed Tightening Pressure, Services PMI Next
BNY strategist Geoff Yu notes that softer US labor data and easing inflation have reduced the need for further Fed tightening, but upcoming Services PMI and ISM Services reports will be critical for shaping rate expectations.
Silver Holds Below $62.50 as Fed Rate Hike Bets Solidify
Silver (XAG/USD) halted its four-day winning streak and traded around $62.30 during European hours Monday, pressured by growing expectations of a Federal Reserve interest rate hike.
Indian Rupee Holds 94-96 Range Against USD – Commerzbank
Commerzbank reports USD/INR eased 0.2% on Friday to 95.20, but gained 0.9% over the week, staying within a 94–96 range.
AUD Slides on Cooler Inflation, Weak Employment Data
The Australian Dollar fell against the US Dollar after cooler inflation reduced pressure on the RBA to hike rates, while weak employment data added to the bearish outlook.
Dollar Supported Ahead of Hawkish FOMC Minutes
The dollar remains relatively supported after last week's softish June jobs report, with hawkish FOMC minutes expected on Wednesday and limited US data this week.